state revenue forecast – From Our Corner

A modest uptick for WA treasury

December 13, 2010 Secretary of State's Office

Amid continuing state budget angst, the state’s chief economist reported a tiny ray of sunshine Monday. The new tax collection report for the past month is up about $24 million. That’s peanuts compared with the $5 billion budget gap that faces lawmakers, of course, and swamps the $700 million worth of spending cuts the governor and the Legislature just approved as they try to get the state’s budget back in balance. But it’s the right direction. Arun Raha, director of…

Revenue update: Economy limps, tax collections lag

August 11, 2010 Secretary of State's Office

A new state economic and revenue update says the national economic recovery “appears to be stalling” and that state tax collections are lagging below expected levels. The report from chief economist Arun Raha says collections were down more than $40 million below the June forecast, bringing the total backslide for the past two months to $124.5 million. The news comes shortly after President Obama signed a $26 billion bailout for the states, including $338 million in expected federal aid for…

Sort of stabilizing … at awful

March 10, 2009 Secretary of State's Office

Fresh news out of the state Revenue Forecast Council is that tax receipts for the past month are down $40 million from levels expected in the November forecast that Governor Gregoire used as the basis for her budget proposals. Believe it or not, that’s sort of good news, since it’s no worse than forecasters predicted last month. It’s true that since the November forecast, our shortfall has grown by nearly $240 million, but since the council produced an informal update…

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